Investment theory focusses on the extent to which commitment is determined by investment in a relationship rather than solely satisfaction or reward. Rusbult (1983) argued that the more someone invests in a relationship (whether in financial, temporal or emotional terms), the greater their commitment to that relationship. Rusbult & Martz (1995) used the basic principles of the investment theory to offer explanation as to why individuals stay in abusive relationships. In such cases, quality of alternatives becomes a significant factor in the continuation of what may be perceived by others
There is difficulty in determining forecast turning points that are, from increasing to decreasing sales. Opportunities and suggestions The opportunities that Kudler has in terms of technology include improved loyalty and profitability of customers, which results from various marketing strategies. Another opportunity for Kudler involves customer purchase behavior patterns. These patterns are recognized through the current system and would help Kudler refine its processes and offerings to best satisfy its valued customers. It is vital for Kudler to continue reviewing and improving its information system to ensure its appropriateness to the changing characteristics and needs of its customers.
Sometimes, the staff exchanges the product with a different size that is suitable for them and whether it makes them happy. In addition, Primark is an outstanding retail company, so the customers would want their staff to have good product knowledge, someone who knows the idea of what they customers like and don’t like. So therefore, it benefits the customer to trust the staff and they would have a good understanding with negotiating with the offers such as ‘sales reduction, which is quite useful in a business. How effective customer service benefits the organisation Great customer service makes your customer feel that you care about developing in long term relationship that means you are not only make more sales, however it does benefit the business in different ways , such as : Repeat
• A differentiator must control its cost structure to ensure the price of its products does not exceed the price customers are willing to pay for them • When differentiation stems from the design or physical features of the product, differentiators are at great risk of being imitated ▫ Example? • When differentiation stems from superior service or reliability, or from any intangible source a company is much more secure. ▫ Example?
When things are quite clear, or very chaotic, people respond well to being told what to do - Task Orientation When the situation is moderate, people often need to be convinced or appealed to - Employee Orientation Substitutes for Leadership Jermier & Kerr found that situational variables can actually substitute or neutralise the need for leadership: – Alternative approaches that can at least partially substitute for the need for leadership or can sometimes overcome poor leadership • • • • Professional orientation Direct feedback from the task Cohesive work group (with positive performance norms) Ability, experience and training Limitations of Contingency Perspective States the importance of context, but theories often employ a ‘matching’ framework (e.g. Fiedler) Often focus is more of relationship between follower and leader, making it hard to consider environmental dimensions Can often ignore or silence formal power relation s(such as the importance of hierarchy) 9 28/03/2014 CONTEMPORARY Perspectives on Leadership 1. Transactional 2. Charismatic 3. Transformational 4.
A procedure can be build to help the managers and consultant at the customer interface achieve new insights into the customer’s requirements and favorites. Lastly, customer-focused strategy is to enter industry that has strong strategic relations to the core adjoining industries. This is a mainly tempting alternative when the core industry is moving toward its operating effectively, produce surplus cash for reinvestment and full capabilities. Therefore industries are most situated to this strategy because it creates relationship with the customers. The executive growth strategy- The three customer-focused growth strategies explains the need supporting infrastructure to raise the chance of victorious implementation.
| Celebrating achievements of the team. | Strong bonding and “we feeling” develops among the employee thus making the team very effective. | During the time of crisis members may cause serious damage due to this strong bonding. | 2. Identify the team formation strategy that is most suitable for Riordan Manufacturing, and provide the rationale for the decision.
Tanglewood is a company that is also known to have an employee participation philosophy, such as; a strong base for employee participation. The HR practices reflect the historical practices that has been shared between stores since its establishment. The practice of employee participation has gained the loyalty of employees, supervisors, and managers of the company. Here lately there has been a concern of other competitors gaining an edge on Tanglewood, along with some incongruences of the practices and philosophies of the company that have been causing a few problems in the different regional locations.
A corporation’s culture is comparable to a person’s personality. The culture supplies direction, meaning, and is the basis for action. The way that personality persuades the action of a person, the shared values and beliefs among a company’s members persuades the actions and opinions within the corporation (Pearce & Robinson, 2004, p. 345). Wells Fargo’s new strategy will have a positive effect on the leadership and culture of the company and the stakeholders. Employees enjoy being allowed to take risks because it makes them feel and believe like their opinion matter.
“Transformational leaders are able to increase follower self-efficacy, giving the group a ‘can do’ spirit. Followers are more likely to pursue ambitious goals, agree on the strategic goals of the organization, and believe the goals they are pursuing are personally important” (Robbins & Judge, 2013, p. 384). By evaluating and comparing my characteristics with my admired leader, Janet Mock, “People working for charismatic leaders are motivated to exert extra effort and, because they like and respect their leader, express greater satisfaction” (Robbins & Judge, 2013, p. 381). Developing those additional leadership skills and advancing the characteristics I currently possess, will allow me the opportunity to expand my horizon. Conclusion Understanding and evaluating leadership styles and theories can allow an individual to assess his or her capabilities.